28 Jul 2023
COMMERCE COMMISSION v NGB PROPERTIES LIMITED [2023] NZHC 2005
- Citation
- [2023] NZHC 2005
- Court
- High Court
The Court imposed a $500,000 pecuniary penalty because the encumbrance was a deliberate attempt to prevent competitive entry and thus serious, but the breach was materially less serious than acquisition-based anticompetitive conduct given no commercial gain, the covenant's unenforceability, prompt cooperation and remedial action by NGB; $500,000 was within the appropriate range.